MLB Home Run Derby 2024 Prize Money: How much will winner and runner-up make from the competition?

T-Mobile Home Run Derby
Julio Rodriguez at previous year's Home Run Derby

Major League Baseball announced all eight players for the 2024 Home Run Derby lineup. The prize money has also been revealed along with the new rules for this year's contest.

The winner of the 2024 Home Run Derby will get an amount of $1 million. MLB decided to increase the prize pool back in 2019, which was a significant increase from $725,000 to $2.5 million. For that reason, the winning amount of the event has been set to be $1 million, while the runner-up will bag $750,000.

The Home Run Derby will take place on July 15 at Globe Life Field in Arlington, Texas.

How much will winner and runner-up get from the competition?

Here's a look at the list of the eight selected participants:

  1. Gunnar Henderson, Baltimore Orioles
  2. Pete Alonso, New York Mets
  3. Alec Bohm, Philadelphia Phillies
  4. Bobby Witt Jr., Kansas City Royals
  5. Marcell Ozuna, Atlanta Braves
  6. Jose Ramirez, Cleveland Guardians
  7. Adolis Garcia, Texas Rangers
  8. Teoscar Hernandez, Los Angeles Dodgers

Some young talents are coming to the Home Run Derby in 2024 like Gunnar Henderson and Bobby Witt Jr. Pete Alonso, who won the event in 2019 and 2021, will also be participating this year. This would be his third victory if he managed to grasp the crown again, which would tie him with Ken Griffey Jr. for the most Derby wins.

Also, the rules have been changed this year to keep the event fun and engaging for fans. In past events, some players had complained about it being exhaustive, which subsequently made them prone to unnecessary injuries as well. So, this time, they've tried to give the players more rest and reduce the time limit.

Diving deeper into the new format of Home Run Derby

The changes aim to enhance the competition's excitement and strategic depth. Previously, hitters were eliminated after accumulating a set number of outs. This year, a time limit replaces the system.

In the first two rounds, batters will have three minutes (or 40 pitches) to maximize their home run output. The final round intensifies the pressure with a tighter two-minute (or 27 pitches) limit.

The pre-determined brackets don't exist anymore which dictated matchups in the initial round. All eight participants will now compete simultaneously, with the top four-homer hitters advancing to the semifinals. This format creates intrigue for the opening round, as every swing is important in securing a spot.

Ties for a semifinal berth will be broken by the length of the longest home run hit by the tied players. Finally, the top performers from the first round will be awarded the privilege of choosing their opponents in the semifinals.

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Edited by Veer Badani
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